Arsenal have rejected Deportivo La Coruna's latest bid of €12m for Lucas Perez, the player's agent has revealed.
The Galician club are said to have lodged an increased €12m offer for the 28-year-old who joined the Gunners in August 2016 from Depor for €20m a year ago.
"It was a more than reasonable offer for a player who Arsenal have devalued,” Rodrigo Fernandez Lovelle is quoted as telling La Voz de Galicia.
“But the club have turned down the offer and so far they have rejected everything.
“Most recently there has been an offer of €10m plus €2m in variables which they didn't consider and then Depor went up to €12m without variables and again they rejected it."
The Spain international has recently criticised Arsenal’s and Arsene Wenger’s handling of his year in London and has requested he be allowed to return to the Riazor.
Perez netted only once in eleven league outings for Arsenal in his sole season in North London where he struggled to dislodge the established attackers at the club, who have since signed Alexandre Lacazette.